Advisory services beneficial for small accountants

In a recent ESS BIZTOOLS Business Advisory Services Podcast, Andrew Geddes, well-known Accounting Consultant said:

“Diminished returns flowing into practices relying solely on tax compliance work are going to impact sooner rather than later.”

“The smart move for accountants is to transition into Business Advisory Services.”

Andrew Geddes outlined the success of a sole practitioner with 4 team members, some working part-time:

The sole practitioner:

• performs an external Chief Financial Officer service for about a dozen clients.
• sits on Advisory Boards for each client.
• Facilitates the “Annual Strategic Review” and quarterly “Business Improvement Projects” for each client.
• Uses the ESS BIZTOOLS “SME Needs Analysis” to kickstart conversations with clients about what services they would like to receive to improve their business.

The four team members do most of the tax work with final review been undertaken by the sole practitioner.

Geddes indicated “it’s really a matter of thinking through what role do I want to apply”.

“There are a lot of challenges confronting SMEs in Australia in 2023/24.”

“In 2023 and beyond, turning the focus to strategies that can bring growth to revenue and profit is key for SMEs.”  Thompson Reuters

This overview illustrates the outstanding services that a small accounting firm can deliver!

This week, ESS BIZTOOLS presented a webinar “Small Firms Benefits of Advisory Services”.

As part of celebration of the opportunities available for small accounting firms and the need to help SMEs, ESS BIZTOOLS is offering a special promotional benefit.

The first 40 firms to sign to ESS BIZTOOLS Starter Package 12-month subscription will receive additional three (3) months on top of their subscription package. That’s a total of 15 months subscription for the price of 12! You will also receive two (2) holiday accommodation vouchers for 4 days/3 nights.

To take advantage of this special offer, click here to subscribe today.